Coconut is a fruit that has a lot of value. From fresh coconut that can be exported with high value to products processed from coconut that are also very diverse, rich, and bring many values, such as: copra; coir; twine from natural products: cotton, flax, jute, coir, sedge; dry coconut.
Data Factory is the first platform to quickly serve all analysis needs with a multi-dimensional and in-depth data system on Vietnam’s economic sectors, including 456 industry codes and 1910 products.
Market overview of coconut products:
Currently, there are about 854 enterprises manufacturing and processing coconut products with many different types and sizes of activities, such as: copra, coir, twine from natural products: cotton, flax, jute, coir, sedge; desiccated coconut, creating jobs for more than 15,000 workers.
Coconut products: coconut rice
The world is paying more and more attention to human health. Organic foods containing many nutrients are increasingly interesting. Especially in developed countries, when health products are put on top, coconut and coconut products are very popular. Worldwide demand for coconut and coconut products is increasing. Desiccated coconut, a processed coconut product, is convenient and still retains many of the values of coconut.
The Philippines and Indonesia are considered two of the major producers and exporters of this commodity in the world. According to data from the Philippine Statistics Authority, the country’s copra exports tend to increase from 2019 to 2022. In 2019 alone, the country exported 147,594 tons of copra. This number decreased slightly to 145,200 tons in 2020 but then increased to 160,117 tons in 2021. According to the latest aggregated data, the trend toward exporting copra will continue to increase.
Europe, Germany, Russia, and the Netherlands will be the largest importers of copra in 2021. These countries imported 13,250 tons, 10,328 tons, and 7,740 tons of copra, respectively.
The production of copra in Vietnam is also very exciting. According to data at Data Factory, in Vietnam, copra production in 2022 will reach x thousand tons, a significant increase in volume compared to 2021. According to the latest data from Data Factory, Vietnam’s copra production in the first quarter of 2023 reached x thousand tons, a sharp decrease compared to the same period in 2022.
Ben Tre and Tra Vinh are still the leading provinces in the country in coconut cultivation and processing. Ben Tre is still the leading province in the country in terms of copra production with x thousand tons, followed by Tra Vinh with x thousand tons.
(To see specific data on production, consumption, and inventories across the country and provinces of copra products, register and use the economic system platform. Data Factory here)
Coconut products: coir
Coir is a natural product made from the outer fibrous layer of the coconut shell. Coir is used in a variety of industries, including agriculture, horticulture, and home furnishings.
In the past few years, the coir market has experienced many price fluctuations due to various factors.
However, despite the challenges facing the coir market in 2022, India, Indonesia, and Sri Lanka are still major exporters of coir products. According to the aggregate report, during the period from January to December 2022, India exported 1.04 million tons of coir and coir products to the world market. India’s coir and coir products are mainly exported to markets such as China, the US, the Netherlands, Korea, and Spain, accounting for 75% of global demand.
In Vietnam, according to data at Data Factory, coir production in 2022 will reach x thousand tons, and in the first quarter of 2023, it will reach x thousand tons. Coir production in the first quarter of 2023 has decreased significantly compared to the same period in 2022.
According to data at Data Factory, Ben Tre is still the province with the largest coconut fiber production in the country. In the first quarter of 2023, this province’s coir production reached x thousand tons. The provinces with lower production are Vinh Long and Tra Vinh, respectively, with y and z thousand tons.
(To see specific data on production, consumption, and inventory of coconut products: (coir), register and use the Data Factory economic system platform here.)
Other coconut products
After many years, the price of desiccated coconut has plummeted due to the closure of the Chinese market. Recently, the price of desiccated coconut has increased again. The reason for this is the reopening of the Chinese market and the US market. China is the main export market for Vietnam’s coconut products, so the opening of this market has opened up many opportunities for the export of Vietnamese coconut products.
According to data at Data Factory, the production of twine from natural products, including coir, increased sharply. According to data at Data Factory, the national output of twine and natural products with coir in 2022 will reach x thousand tons. This level of output decreased again in the first quarter of 2023, reaching only x thousand tons.
(Register and use Data Factory economic system to see specific data on production, consumption, and inventory of coconut products here)
The coconut market is active in both domestic and export markets
Production situation of fresh coconuts
Currently, Vietnamese coconuts have an important position in the world, with an area of over 188 thousand hectares. Vietnam’s coconut growing area accounts for 1.67% of the world’s area and 2.07% of the Asian coconut area. The growth rate of Vietnam’s coconut growing area is quite high. In 2010, Vietnam’s coconut area ranked 6th in the world, by 2021, Vietnam’s coconut area ranked 5th in the world.
Ben Tre is still considered the coconut capital of the country. According to the general report, in 2022, Ben Tre will have a total area of more than 78,000 hectares of coconut cultivation, of which the area of coconut fruiting will be more than 71,400 hectares. In this area, every year Ben Tre provides about 688 million coconuts for the whole country.
Exports of fresh coconut grow strongly
With their nutritional values, fresh coconuts are very popular in Western countries. About 389,530 farming households earn income from coconuts. Coconuts create export value, and coconut products have reached over 900 million USD. Vietnam’s coconut industry is ranked 4th in total value in the world coconut market. In 2023, Vietnam is expected to strive to export coconut and coconut products to the tune of over 1 billion USD.
Vietnamese coconuts granted “VISA” to the US
Vietnamese coconuts meet the strict requirements of the US market:
The good news for Vietnamese fresh coconuts is that the US market has opened up for coconuts to be present in this market. To be present in the US market, Vietnamese coconuts must meet the strict requirements of this market. Accordingly, APHIS has classified partially dehulled coconut as a processed product. Therefore, the only phytosanitary requirement for Vietnamese coconut skull shipments will take place only at the ports of entry into Vietnam. America. This greatly reduces the time to check orders, and Vietnamese coconuts will be on the shelves sooner, ensuring the freshness of the product.
Processed coconuts are less likely to bring disease into the US:
In February 2023, the US side sent the results of a pest risk analysis for fresh Vietnamese coconuts. Accordingly, 43 species of pests on coconut trees were identified, but none were able to follow fresh young coconuts exported from Vietnam to the US. This once again confirms the quality of Vietnamese coconuts. The export of fresh coconuts to the US market opens up the expectation of a billion-dollar export fruit.
(Register and use Data Factory economic system to see specific data on production, consumption, and inventory of coconut products here)
Data Factory is the first platform to quickly serve all analysis needs with a multi-dimensional and in-depth data system on Vietnam’s economic sectors, including 456 industry codes and 1910 products.
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